Corporate Profile and Background

Corporate Profile

With 13.7 million consumer units served by its four distributors – Coelba (BA), Celpe (PE), Cosern (RN) and Elektro (SP / MS) – Neoenergia is responsible for bringing energy to 34 million people, almost 20% of the Brazilian population. Iberdrola is an integrated energy company operating in the segments of Generation, Transmission, Distribution and Trading, with business in 16 Brazilian states and with a strong presence in the Northeast, one of the most growing regions in the country in terms of GDP and population. In the Generation area, between assets in operation or under construction, the group has an installed capacity of 4,541 megawatts (MW). It is recognized as the most transparent company in Brazil according to the 2018 ranking of the ONG Transparência Internacional.

Our concession area is almost 835 thousand square kilometers and covers about 1,000 municipalities. The distributors, Coelba, Celpe, Cosern and Elektro – comprised in the Networks category – participated with 92% of total Gross Revenue in the 2Q18 Results.

Our generation platform is based on a matrix of clean sources, a significant portion of them renewable, and enjoys long-term concessions as well as long-term sales agreements in the regulated market (CCEAR´s). We believe that matrix diversity, together with our presence in both the distribution and sales segments, affords us consistency in producing results and mitigating risks.

Founded in 1997, following the privatization of the distribution concessionaires in the States of Bahia (COELBA) and Rio Grande do Norte (COSERN), and having acquired CELPE in 2000, Neoenergia is one of the largest integrated companies in the electricity sector in Latin America.

Our growth has been essentially organic, driven by major investments in quality improvement, universalization of access to energy in our concession areas, and the development of greenfield generating projects, primarily from clean sources, in addition to transmission lines.

The incorporation of Elektro in August 2017 consolidated Neoenergia as an integrated electric power company in Latin America, a result of the combination of a large and diversified generation and distribution platform, now with a distribution presence in São Paulo, the most developed state in Brazil.

Operating in the Brazilian electricity sector, we believe that it represents the greatest growth potential in Latin America and one of the most attractive investment opportunities among the emerging markets.



The Company started investing in the energy distribution sector in 1997 with the purchase at privatization auction of COELBA (the Bahia State Electricity Company), the largest distribution company in the north east, through the Guaraniana consortium.


  • Purchase of COELBA (Bahia State Electricity Company).
  • Purchase of COSERN (Rio Grande do Norte Energy Company), both with a 30-year federal concession.
  • Grant of concession for the use of public assets to exploit the Itapebi hydroelectric plant on the Jequitinhonha River (installed capacity 462 MW).
  • Purchase of CELPE (Pernambuco State Energy Company), at a privatization auction, for the minimum tender price of R$1.8 billion.
  • The deal included a commitment to build a thermoelectric plant in the State, and a start was made on constructing the Termopernambuco UTE (installed capacity 532 MW).
  • Construction started on the Termoaçu UTE, located in the State of Rio Grande do Norte, in partnership with Petrobras (installed capacity 368 MW).
  • Incorporation of sales company NC Energia.
  • Purchase of the 42% of the shares of Itapebi belonging to COELBA.
  • Restructuring and creation of a holding company. Name changed to Neoenergia.
  • Termopernambuco UTE starts commercial operations.
  • Concession auction for construction of Baguari UHE (installed capacity of 140 MW, 51% Neoenergia) and PCHs Goiandira (installed capacity – 27 MW) and Nova Aurora (installed capacity – 21 MW).
  • Incorporation of Afluente Geração e Transmissão de Energia Elétrica S.A. (installed capacity 18 MW) to meet deverticalization guidelines in the distribution segment pursuant to Law No. 10.848/2004, and to take over the generation and transmission assets of COELBA.
  • Commercial operations of Termoaçu UTE.
  • Concession auction for Baixo Iguaçu UHE (installed capacity 350 MW, 70% Neoenergia).
  • Inauguration of Pirapetinga and Pedra do Garrafão PCHs, and Baguari and Corumbá UHEs.
  • Authorization obtained for construction, operation and maintenance of Narandiba substation.
  • Purchase of 10% interest in Belo Monte UHE (installed capacity 11.233 MW), on the Xingu River (PA).
  • Concession auction for construction and exploitation of Teles Pires UHE (installed capacity 1.819 MW, 51% Neoenergia).
  • 2nd alternative sources auction: purchase of nine wind farms (installed capacity 258 MW, 50% Neoenergia)
  • Construction starts on 10 wind farms, nine obtained at auction and Caetité 1 in the ACL (total installed capacity 30 MW, 50% Neoenergia).
  • Signing of concession of Afluente Transmissão de Energia Elétrica S.A. and the plants of Afluente Geração de Energia Elétrica S.A.
  • Sítio Grande, Goiandira and Nova Aurora PCHs start commercial operations.
  • Completion of construction work on Dardanelos UHE.
  • Signature of Purchase and Sale Deed with Iberdrola for acquisition of the cogeneration companies Energyworks and Capuava Energy (91 MW).
  • Narandiba substation comes on stream.
  • Dardanelos UHE starts commercial operations.
  • Concession obtained for construction, operation and maintenance of Extremoz substation.
  • Concession obtained for construction, operation and maintenance of Brumado II substation.
  • Signature of concession agreement for Baixo Iguaçu, through SPE Geração Céu Azul S.A., for a 35-year period, with the issue of installation license No. 17033, after a long environmental licensing process.
  • Works starts at Baixo Iguaçu.
  • Wind farms Mel and Arizona 1 start commercial operations.
  • Completion of work on wind farms Caetité 2 and 3, and Calango 1, 2, 3, 4 and 5 are recognized by ANEEL as “fit for commercial operation”.
  • ANEEL transmission auction 001/2013: purchase of lot G for the construction, operation and maintenance of a 500kV transmission line extending for approximately 196 km, with connection bays at substations Campina Grande III, in Paraíba and Ceará-Mirim II in Rio Grande do Norte.
  • Completion of sale of Termoaçu UTE to Petrobras, with a 23% interest being transferred to Neoenergia.
  • Amendment of the shareholders’ agreement governing the partnership between Iberdrola and Neoenergia in FEB. The original parent company, Força Eólica do Brasil, underwent a partial spinoff from which three companies were formed. In addition to the original company, which remained under joint control, two others were formed, each under the control of one of the partners. Neoenergia was under control of FEB 1, the parent company of the wind farms Caetité 1 and 2 and Calangos 1,4 and 5. FEB 1 thus became a subsidiary of Neoenergia, which consolidated its accounts according to the global method.
  • Contracting of six new wind farms, three of them in Rio Grande do Norte and three in Paraíba (installed capacity 178.5 MW, 50% Neoenergia).
  • Commercial operation and expansion of Brumado II substation.
  • Commercial operation of Caetité 1, Caetité 2 and Caetité wind farms.
  • Neoenergia completes purchase of Iberdrola’s interest in COELBA and COSERN, of 8.5% and 7.01% respectively.
  • Extremoz II substation starts commercial operations.
  • Completion of construction of 4 UGs, recognized as “fit” by ANEEL. The first two start operating with completion of a provisional transmission line at the end of the year.
  • Potiguar Sul transmission line starts commercial operations.
  • Teles Pires UHE starts full commercial operations.
  • Five wind farms (Calango 1, 2, 3, 4 and 5) start commercial operations.
  • Calango 6 and Santana 1 and 2 start test operations.
  • Geração CIII S.A. purchases the shares of Energética Corumbá III S.A. belonging to Strata Construções e Concessionárias Integradas S.A. and Energ Power S.A.
  • Neoenergia starts the process of selling to Contour all its shares in: (i) Afluente Geração de Energia Elétrica S.A.; (ii) Bahia PCH I S.A.; (iii) Goiás Sul S.A.; (iv) Rio PCH S.A.; and (v) EnergyWorks do Brasil Ltda., with Capuava Energy Ltda.
  • Completion of sale of PCH and cogeneration assets to Contour Global do Brasil Participações Ltda., on March 17, 2017.
  • Elektro Holding SA taken over in August.